This study aimed to measure the health literacy among Korean elderly living in the community, and to explore the factors influencing health literacy of the elderly. A descriptive correlational research design was used. The sample consisted of 411 elders who were conveniently selected from the community welfare center users in Seoul and Gyeong-gi province. Data were collected from face-to-face interviews by trained interviewers between January, 7 and February, 4, in 2008. Health literacy was measured by Korean Health Literacy Scale developed by Lee(2008). Descriptive statistics, ANOVA, t-test, and multiple regression were used to analyse the data. In result, the mean score of health literacy was 17.46(±5.73) with a range of 0 to 25, 42.8% of elderly had limited health literacy problems. Multiple regression showed that 26.5% of variance in health literacy was accounted for by the combination of education, age, living arrangement, and income. In conclusion, various strategies to improve health literacy in elderly population in the areas of health education and disease management should be needed to reduce health disparities among elderly